SAN JOSE, Calif. – February 17, 2009 – SEMI applauds several innovation-oriented elements of the American Recovery and Reinvestment Act (H.R. 1) signed today by President Obama.

This hallmark legislation includes significant funding increases for key science agencies, including the National Science Foundation, the National Institutes for Standards and Technology and the Department of Energy. The bill also emphasizes alternative energy with numerous provisions and new spending intended to increase government use of alternative energies, spur development of the domestic market and create “green” jobs. SEMI actively worked with Congress and the Administration on these priorities.

“R&D investment is critical to our future. It is in the long-term interest of SEMI members and fuels needed innovation,” said Jonathan Davis, President of SEMI North America. Davis continued, “Increased federal R&D investments will provide an immediate boost to researchers in high tech fields and create discoveries to address many of our challenges.”

In addition to federal R&D investments, the legislation includes several provisions related to renewable energy. These provisions include the creation of a new manufacturing tax credit, a temporary loan guarantee program, a new DOE program that will provide grants as an alterative to the investment tax credit, and increased federal procurement.

"SEMI commends Congress for the renewable energy provisions that will benefit solar energy including the creation of a new manufacturing tax credit for renewable energy," said Davis. "This new tax incentive is a step in the right direction and shows the commitment by Congress to renewable energy. SEMI looks forward to working closely with Congress on the upcoming energy bill."

SEMI is the global industry association serving the manufacturing supply chains for the microelectronic, display and photovoltaic industries. SEMI member companies are the engine of the future, enabling smarter, faster and more economical products that improve our lives. Since 1970, SEMI has been committed to helping members grow more profitably, create new markets and meet common industry challenges. SEMI maintains offices in Austin, Beijing, Brussels, Hsinchu, Moscow, San Jose, Seoul, Shanghai, Singapore, Tokyo, and Washington, D.C. For more information, visit www.semi.org.